Tuesday, July 08, 2008

The Second Half of 2008

Inflation and energy. The latter busting the former out of the seams. The Market Mistress doing her thing, wringing the Wall Street crowd and bankers down to a level of sanity. America is on a collision course with reality and none too soon. For far too long the price of a gallon of gasoline was cheap. America fed at the zero percent financing trough of Detroit and drank those stocks down to double digits. High pump prices, credit issues, politics, speculating get the pointed fingers. All are to blame.

The average bear market lasts about 10 months. This bear will take us well into the second half of the year.

The problems around the globe are increasing. Pollution, disease, overfishing the worlds oceans to name but a few.

America's problems, look in the mirror. Where's our soul? What is the collective breath? Is it the "something for nothing" mentality of casino gaming? Is it the socialism of Social Security? Is all of America for sale with lobbyists spending 1 billion dollars a day inside the Beltway?

Good markets come after bad markets. American ingenuity will prevail.

It is NOT different this time.

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